Gold prices on Thursday reduced by Rs 74 to Rs 77,018 per 10 grams in futures trade amid weak global cues, PTI reported. This comes even as Gold and silver bullion prices have risen over 2% compared to ten days on the back of political unrest in South Korea and France. On the Multi Commodity Exchange, gold contracts for February delivery traded lower by Rs 74 or 0.1 per cent at Rs 77,018 per 10 grams in a business turnover of 12,297 lots. Globally, gold futures fell by 0.10 per cent to USD 2,647.14 per ounce in New York. "As of now, prices have got good support near $2,600. We are bullish on gold due to geopolitical scenarios, de-dollarisation, and central bank buying, and expect prices to test around $3,000 by March 2025," said Ajay Kedia, director at Kedia Commodities, Mumbai, reported Reuters. Gold is considered a hedge against geopolitical crises and inflation, but high rates diminish its appeal. - With PTI and Reuters inputs
